Why Are there So Many Poor Quality Coins On the Market?

CalGold

A. The Grading Services Have Been Over Emphasizing Luster and Penalizing Originality

B. The Grading Services Have Been Too Tight—No Body Wants to Sell Undergraded Coins, So Nice Coins Are Being Withheld from the Market

C. The Grading Services Have Been Swamped With Submissions—Even if they Overgrade Only 5% of the Submissions, that 5% Adds Up Quickly

D. The Nicest Coins Have Been Bought Up During the Surge in Collecting Over the Past 5 Years

E. Some of the Above

F. All the Above

G. None of the Above—The Complaints Are from Dealers Trying to Dissuade Collectors From Buying at Auctions.

H. Its Part of an Illuminati Conspiracy

rec78

Because nobody wants them and they keep getting recycled.

AU58WALKERS

<< <i>Because nobody wants them and they getting recycled. >>



This has my vote

Bear

The overhang of unsellable coins, is increasing every year.

It is much like a slag heap as high as a mountain. It ties up critical

capital and artificially lowers the value of decent, lower grade coins.

Just wish we could take all of those silver trash coins and melt them down

for bullion. At least then, they would be worth something.

Cladiator

It seems to me that there was pretty much the same amount of crap coins on the market when I first got into this hobby. There are alot out there and there always will be.

jmski52

The coin doctors don't help the situation, either.

ColonialCoinUnion

<< <i>G. None of the Above—The Complaints Are from Dealers Trying to Dissuade Collectors From Buying at Auctions. >>



I always get a kick out of this line of reasoning -

Who do you think are the biggest consignors to auctions?

LincolnCentMan

Because we own all the nice ones and we arnt sell'n.

-David

Bear

Danged Illumunati!

410a

Colonial Coin Collector, the more they tell you don't. The more the
herd does. On the other hand what stops a collector from consigning
to auction? Nothing. Except maybe the 5% or so it cost if your coin
doesn't sell. Well, just thoughts.

BigE

410a has hoarded all the nice Albany commems and he won't sell-------BigE

speety

E. I agree with A, B, and C. Poor quality coins are floaters (as RYK would call them) and never sink into nice collections and therefore are always up for grabs on the market.

ricko

There are many, many more poor quality coins than there are high quality coins.. and the collector market is very, very large. I have settled for lessor quality coins in some cases, to complete a series (i.e. CC Morgans), then am content to wait for opportunities at higher grades. Also, high grade registry sets pull many off the market... one must just wait for opportunities or actively pursue the hobby in unorthodox areas. Cheers, RickO

BlindedByEgo

<< <i>The overhang of unsellable coins, is increasing every year.

It is much like a slag heap as high as a mountain. It ties up critical

capital and artificially lowers the value of decent, lower grade coins.

Just wish we could take all of those silver trash coins and melt them down

for bullion. At least then, they would be worth something. >>




Can't increase - they're not minting any more.

Do you mean "unsellable coins" as "overgraded POS coins entombed in plastic"?

Then I might agree with you.

I'm all for melting crap - I think you will see it happen naturally when silver goes over $50.00/ oz.

fcloud

I think it has more to do with the market being hot. The coins aren't available, because they are in collections, and people just aren't ready to sell. As the prices go up the stuff will come back to the market. One of the dealers I visted yesterday said he want to buy stuff, but not too many people are selling right now.

Blackhawk

There are nice coins out there...just not for what most collectors are willing to pay. As the prices of better coins goes up with demand because of a larger collector base, so do the numbers of collectors complaining about there not being any nice coins available for what they'd spend.

Blackhawk

<< <i>One of the dealers I visted yesterday said he want to buy stuff, but not too many people are selling right now. >>

This may be true, but at what price?

RedTiger

<< <i>

<< <i>The overhang of unsellable coins, is increasing every year.

It is much like a slag heap as high as a mountain. It ties up critical

capital and artificially lowers the value of decent, lower grade coins.

Just wish we could take all of those silver trash coins and melt them down

for bullion. At least then, they would be worth something. >>




Can't increase - they're not minting any more.

Do you mean "unsellable coins" as "overgraded POS coins entombed in plastic"?

Then I might agree with you.

I'm all for melting crap - I think you will see it happen naturally when silver goes over $50.00/ oz. >>



Sure they can increase. With every round of resubmits there are more maxed out coins that no knowledgeable collector wants unless they are deeply discounted Some dealers will not budge an inch on price even though they might have personally sent it in 10 times to max out the coin and know full well it is a dog coin at the new grade.

Also with every NCS or other "conservation" job there is one less original coin on the market. Some folks like these, some will not touch these "gems."

JRocco

People buy coins based on the plastic they are in and what the # on the slab says. When they actually LOOK at the coin and realize that maybe it does not really live up to what they expect for that grade/money---back into the market it goes.

It's The Kool Aid Syndrome

planetsteve

What are some of the more controversial things that NCS does to conserve coins?

RedTiger

<< <i>What are some of the more controversial things that NCS does to conserve coins? >>



In my mind it is not so much what they do, but that so many customers send in coins to NCS that look just fine and would slab and sell at good price without any enhancement. NCS makes them look "better" and often the grade gets a bump up. Many old time collectors will not knowingly buy these conserved pieces.